Buy PSU Navratna Stock For Attractive Return, Dividend Income: ICICI Direct

ICICI Direct has recommended investors to buy large cap stock operating in Defence sector, Hindustan Aeronautics Ltd with target price of Rs 3240 apiece. Current market price of HAL is Rs 2847.05 apiece. If you buy Hindustan Aeronautics share now, you can fetch potential return of 14%. The PSU Navratna stock offered 108% return in just 1-year and 18% return in last 6-months. The company is likely to make dividend related announcement today. Check details pertaining to the stock below:

Hindustan Aeronautics Stock Performance: The current market price of HAL is Rs 2847.05 apiece at 10 am on March 10, 2023. The stock's 52-week high is Rs 2894.45 apiece and 52-week low is Rs 1345.00 apiece, respectively. The company has a market capitalisation of Rs 96,785.12 crore.

Hindustan Aeronautics Return & Financial Performance: The stock gave 18% return in last 1-month, over 4% return in last 3-months, 18% return in last 6-months, and a strong return of 108% in last 1-year. It soared over 381% in last 3-years.

The company for the quarter ended December 31, 2022 declared its consolidated total income of Rs 6,162.72 crore, up 14.04 % from last quarter total income of Rs 5,403.86 crore. Its net profit after tax is declared at Rs 1,153.92 Crore in latest quarter.

Hindustan Aeronautics About: The Company which had its origin as Hindustan Aircraft Limited was incorporated on 23 Dec 1940 at Bangalore by Shri Walchand Hirachand, a farsighted visionary, in association with the then Government of Mysore, with the aim of manufacturing aircraft in India. HAL is contributing to the space programmes of the country. A separate Aerospace division was established in 1988.

The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.